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Crypto Apocalypse Near: New ‘Pro KYC’ AIs Can Fool Even the Most Secure Exchanges With Fake ID Documents!

A  illustration depicting a person sitting at a computer with multiple screens displaying various cryptocurrency exchanges, including Bybit and Revolut. The individual is shown holding an Australian passport with a deepfake image of their face on it, while another screen shows the same AI-generated face in a video format being used to bypass KYC measures. In the background, there are scattered pieces of paper with fingerprints and verification photos, symbolizing the various tools available for creating fake identities.

Just when you thought it was safe to go back into the wild west of cryptocurrency… a new ‘AI-powered deepfake tool’ has emerged, and we can’t even begin to fathom how much more creative (and destructive) these cyber-scoundrels have become. Meet ProKYC, an AI-generated ID document that’s as convincing as it is devious – essentially a digital Swiss Army knife for crypto scammers looking to bypass those pesky Know Your Customer measures on exchanges like Bybit.

Source: cointelegraph

A new AI-powered deepfake tool called ProKYC that allows nefarious actors to bypass high-level Know Your Customer (KYC) measures on crypto exchanges demonstrates a “new level of sophistication” in crypto fraud, cybersecurity firm Cato Networks said. In an Oct. 9 report, Cato Networks’ chief security strategist Etay Maor said the new AI tool represents a significant step up from the old-fashioned methods cybercriminals used to beat two-factor authentication and KYC. […]

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